BP: takes over Chargemaster

(CercleFinance.com) - BP, the oil and gas giant, this morning announced the acquisition of the UK's largest electric vehicle charging company, Chargemaster, which will be renamed BP Chargemaster.


The terms of the deal were not specified.

The target manages the UK's largest network of charging stations - more than 6,500 outlets under the POLAR brand. Some of its clients (more than 40,000 at present) have monthly subscriptions, while the rest pay for each use.

Chargemaster also designs, builds, sells and services electric vehicle charging units for many locations, including home charging, the statement added.

BP estimates that the number of electric vehicles circulating in the UK will increase from around 135,000 in 2017 to around 12 million by 2040.


Copyright (c) 2018 CercleFinance.com. All rights reserved.